Citing two sources familiar with the matter, the wire said that jobs would be cut accross sales, trading and investment banking, and whose staff will be reduced 6 percent.

Morgan Stanley Chief Executive James Gorman has pledged to reduce costs, and said in July that he planned to reduce overall staff 7 percent in 2012. The new job cuts are in addition to that plan, the sources said.

The cuts represent roughly 6 percent of the securities unit's staff, the sources said. They represent less than 3 percent of Morgan Stanley's entire estimated workforce at year-end, following other staff reductions in 2012.